South Carolina Notice of Redemption of Preferred Stock

State:
Multi-State
Control #:
US-1082BG
Format:
Word; 
Rich Text
Instant download

Description

A redemption is the return of an investor's principal in a fixed-income security, such as a preferred stock. Preferred stock is a class of shares of stock in a corporation which gives the holders priority in payment of dividends and distribution of assets in case of dissolution of the corporation over owners of "common" stock. Preferred stock shareholders do not participate in higher dividends if the corporation makes large profits, and usually cannot vote for directors. Also unlike common stock, a preferred stock pays a fixed dividend that does not vary, although the company does not have to pay this dividend if it lacks the financial ability to do so. The dividends paid to preferred shares are deducted as an expense because they are required payments, unlike the common stock dividend which is just a sharing in part of the profits. Like common stock, preferred stocks represent partial ownership in a company.

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FAQ

Section 29-5-120 - Time for bringing suit to enforce lien; dissolution and release of lien (A) Unless a suit for enforcing the lien is commenced and notice of pendency of the action is filed within six months after the person desiring to avail himself of it ceases to labor on or furnish labor or material for the ...

If you fail to make a required payment on time, the lender must send you a "Notice of Right to Cure" the default. This Notice can only be sent once you are more than ten days late and it gives you 20 days to catch up your payments.

State tax liens are active for 10 years. You cannot sell or refinance your property until you pay off your tax lien and receive a clear title.

SECTION 29-5-20. Lien of laborer, mechanic, subcontractor or materialman; limits on aggregate amount of liens filed by sub-subcontractor or supplier; limits on total aggregate amount of liens; exceptions; settlement of action to enforce lien.

South Carolina requires payment to be made first, and that the lien waiver should be in writing. Both conditional and unconditional lien waivers are allowed, as long as the payment associated with the waiver has been met. South Carolina has no requirement that a written lien waiver must be notarized.

Lien of person furnishing labor and materials for buildings or structures; offers of settlement.

South Carolina Business Corporation Act of 1988 defines a Corporation or Domestic Corporation as a corporation incorporated for profit and not a foreign corporation. Any person may act as the incorporator of a corporation by delivering articles of incorporation to the Secretary of State for filing.

The Right to Cure Act is a product of the South Carolina Legislature, which decided that some construction lawsuits might be avoided if the homeowner was first required to give the contractor notice of the alleged defect and to give that contractor the right to fix, or ?cure? the problem.

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South Carolina Notice of Redemption of Preferred Stock